GM Advisory Group LLC Reduces Stock Position in General Motors (NYSE:GM)

GM Advisory Group LLC cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 8.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,555 shares of the auto manufacturer’s stock after selling 408 shares during the quarter. GM Advisory Group LLC’s holdings in General Motors were worth $212,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LifeSteps Financial Inc. purchased a new stake in General Motors during the 1st quarter worth approximately $25,000. Wellington Shields Capital Management LLC purchased a new stake in General Motors during the 2nd quarter worth approximately $28,000. Fortitude Family Office LLC increased its holdings in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the last quarter. Cape Investment Advisory Inc. increased its holdings in General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares during the last quarter. Finally, Montag A & Associates Inc. bought a new stake in shares of General Motors in the 1st quarter valued at approximately $30,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GM has been the subject of a number of research analyst reports. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a report on Monday, August 5th. Nomura Securities upgraded General Motors to a “strong sell” rating in a report on Monday, August 5th. UBS Group boosted their price target on General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of General Motors in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.27.

General Motors Trading Up 0.5 %

Shares of GM stock opened at $48.88 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The stock has a fifty day moving average of $46.28 and a two-hundred day moving average of $45.23. The firm has a market capitalization of $55.77 billion, a PE ratio of 5.98, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. During the same quarter in the previous year, the firm posted $1.91 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts expect that General Motors will post 9.95 EPS for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, September 6th. General Motors’s dividend payout ratio is presently 5.87%.

General Motors announced that its Board of Directors has initiated a share repurchase program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at General Motors

In other news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were bought at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.